Trustco owner Quinton van Rooyen said it’s unfortunate that the Namibia Revenue Agency (NamRA) abandoned their consultative relationship by seemingly acting in cahoots with Bank of Namibia (BoN) to undermine Trustco. 

Trustco is fighting NamRA over N$306 million alleged tax arrears in court.

“By proceeding in this manner, NamRA has now laid bare the root cause of the continuous public complaints and outcries about the unjust, poor and substandard tax collection, allocation and refunds in Namibia,” said Van Rooyen last week in a statement.  

Trustco said NamRA recently owed Trustco tax credits amounting to N$136 million. NamRA issued certificates of good standing to the Trustco Group of Companies on 1 September 2022. However, on 3 October 2022, NamRA reversed its prior decisions with Trustco and claimed that Trustco now owed NamRA N$306 million (including interest). Per Trustco’s calculation, if its tax credits had been correctly set off, its amount due to NamRA would be N$7.8 million as of 31 August 2022.

The High Court of Namibia ordered NamRA to withdraw the unwarranted notices issued in terms of the Income Tax Act and the Value Added Tax Act with regard to Trustco accounts, and that no new notices may be issued until the finalisation of the review application. 

This was after Trustco sought an urgent application on 8 November 2022 challenging the constitutionality of these notices. 

The review procedure will commence tomorrow. On Thursday, chief strategic communications and support engagements at NamRA, Yarukeekuro Ndorokaze said as the matter is before the High Court, it makes it sub judice and, thereby, limiting the extent of NamRA’s response to several allegations
levelled against it.

“Our intention to oppose the matter has been entered and all unwarranted and unsubstantiated allegations will be refuted in due course,” said Ndorokaze.